Bank of Nova Scotia (TSE:BNS) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$71.66 and traded as high as C$75.03. Bank of Nova Scotia shares last traded at C$74.67, with a volume of 5,333,393 shares.

Analyst Ratings Changes

BNS has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Bank of Nova Scotia from C$85.00 to C$78.00 in a research report on Thursday, May 22nd. TD Securities lifted their target price on Bank of Nova Scotia from C$77.00 to C$79.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Canaccord Genuity Group lifted their target price on Bank of Nova Scotia from C$80.00 to C$81.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. National Bankshares lifted their target price on Bank of Nova Scotia from C$71.00 to C$72.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 28th. Finally, Royal Bank Of Canada dropped their target price on Bank of Nova Scotia from C$81.00 to C$80.00 and set a "sector perform" rating for the company in a research report on Monday, June 9th. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Bank of Nova Scotia has an average rating of "Hold" and a consensus target price of C$77.31.

Bank of Nova Scotia Stock Down 0.8%

The firm has a market capitalization of C$91.50 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.33 and a beta of 0.97. The stock has a 50-day moving average price of C$73.18 and a 200 day moving average price of C$71.66.

Bank of Nova Scotia Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Tuesday, July 29th will be paid a dividend of $1.10 per share. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $1.06. The ex-dividend date is Wednesday, July 2nd. This represents a $4.40 annualized dividend and a yield of 5.89%. Bank of Nova Scotia's payout ratio is presently 67.00%.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.